Global stock markets plunge

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Friday, October 24, 2008

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Stock markets around the world have fallen dramatically today. This is following the ongoing events in the financial world and related statements by several United Kingdom politicians, including Prime Minister Gordon Brown.

Stock markets worldwide fell dramatically today
Image: Rafael Matsunaga.

The British FTSE 100 index was one the indices that today suffered from large falls. It fell by 5.00% to slip below the four thousand mark, at 3,883.36 points.

Two of the major United States indices saw falls of over two per cent. The Dow Jones Industrial Average fell by 252.01 points (2.90%) to 8,439.24 by 17:30 UTC, while the Nasdaq Composite index experienced a 2.30% drop.

South American markets performed particularly badly today. By 17:30 UTC, the Argentinean MERVAL index had fallen by almost six per cent to 906.160 points, while the Brazilian Bovespa fell by 6.89% (2,328.45 points) to a value of 31,490.04.

David Buik of BGC Partners commented on today's falls. "It's carnage," he said. "Confidence is shot to ribbons. We need action now. It is a catastrophe that we have got to recession, but we have got to learn to live with it, and that means saving the markets."

Market data

17:30, 24 October, 2008 (UTC)
  • DJIA
  • 8,378.47 Loss 312.78 Loss 3.60%
  • Nasdaq
  • 1,564.55 Loss 39.36 Loss 2.45%
  • S&P 500
  • 875.61 Loss 32.50 Loss 3.58%
  • S&P TSX
  • 9,080.72 Loss 250.63 Loss 2.69%
  • IPC
  • 16,899.20 Loss 899.78 Loss 5.06%
  • Merval
  • 906.160 Loss 57.540 Loss 5.97%
  • Bovespa
  • 31,490.04 Loss 2,328.45 Loss 6.89%
  • FTSE 100
  • 3,883.36 Loss 204.47 Loss 5.00%
  • DAX
  • 4,295.67 Loss 224.03 Loss 4.96%
  • CAC 40
  • 3,193.79 Loss 117.08 Loss 3.54%
  • SMI
  • 5,675.09 Loss 218.64 Loss 3.71%
  • AEX
  • 245.92 Loss 11.93 Loss 4.63%
  • BEL20
  • 1,918.08 Loss 65.06 Loss 3.28%
  • MIBTel
  • 15,390.00 Loss 803.00 Loss 4.96%
  • IBEX 35
  • 8,353.20 Loss 458.00 Loss 5.20%
  • All Ordinaries
  • 3,831.60 Loss 107.70 Loss 2.73%
  • Nikkei
  • 7,649.08 Loss 811.90 Loss 9.60%
  • Hang Seng
  • 12,618.40 Loss 1,142.11 Loss 8.30%
  • KOSPI
  • 938.75 Loss 110.96 Loss 10.57%
  • SSE Composite
  • 1,839.62 Loss 35.94 Loss 1.92%


    Sources

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